Technical analysis GBPNZD for 20.05.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.95480. The closest support is the level 1.94940

Key levels

• 1.96500, 1.96030, 1.95480, 1.94940, 1.94200, 1.93670

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.95480, with Take Profit of 1.96030 and Stop Loss of 1.95200

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.94940, with Take Profit of 1.94200 and Stop Loss of 1.95200